The expected value of your profit or loss for a single scratch-off ticket is exactly
Multiply each net payout by its corresponding probability and add the products together. The expected value formula is fifa-22-pc-game-free-download
Here is the step-by-step procedure to calculate this result: 1. Identify all net payouts The expected value of your profit or loss
Next, list or calculate the probability for each outcome. The problem gives most of them directly, but we need to calculate the probability of winning nothing: Probability of Probability of Probability of Probability of To find the probability of winning nothing (losing ), subtract the sum of the winning probabilities from The problem gives most of them directly, but
E(X)=2.20−3.20=-1.00cap E open paren cap X close paren equals 2.20 minus 3.20 equals negative 1.00 ✅ Final Answer
E(X)=0.95+0.75+0.50+0−3.20cap E open paren cap X close paren equals 0.95 plus 0.75 plus 0.50 plus 0 minus 3.20